Sikkim receives investment proposals worth Rs. 500 crore at Hyderabad business summit

GANGTOK,: Sikkim participated in North East Global Investment Summit organized by the Ministry of Development of North Eastern Region (MoDONER) on Wednesday at Hyderabad. The event was organized to promote trade and investment in North Eastern States, informs a press release.

The investment summit was chaired by Mizoram Governor Hari Babu Kambhapati and Dr. Sukanta Majumdar, Minister of State, Ministry of Development of North Eastern Region.

The Sikkim delegation was led by C.S. Rao, principal secretary, Tourism & Civil Aviation department, and M. Ravikumar, director, MSME, Commerce & Industries department. The principal secretary made a detailed presentation on investment scope, potential sectors and investable projects in Sikkim, the release mentions.

More than 30 investors attended the G2B meetings of Sikkim. Investment proposals were received in sectors like small hydro power, luxurious retirement homes for senior citizens, fashion jewellery, AVGC-XR, ethanol manufacturing, hazardous waste management, plastic recycling and children’s play park.

“Investment proposals worth Rs. 500 crore was received in the summit. The business proposals will be pursued by the Commerce & Industries department to facilitate the investors to invest and commence their operation in Sikkim,” the release states.

The Sikkim delegation also participated in India Game Developers Conference organized at Hyderabad on Friday by Game Developer Association of India (GDAI). “Few game development studios expressed interest to set up their commercial production studios in Sikkim. Follow up action will be taken up by Commerce & Industries department to facilitate the investment process.”